Auto, gas sales inflate retail numbers

TORONTO — While retail sales rose 6% (year over year, without seasonal adjustment) in Q1, analyst Ed Strapagiel says the numbers are deceiving. “A closer look … reveals that much of this growth comes from the automotive and related sector, due to strong sales increases at both vehicle dealers and gas stations,” he reports. “Automotive and related sales gained 12% in Q1, over four times higher than the rest of retail.” Meanwhile, store retail sales rose just 2.7% in the quarter, the lowest increase in the past three years.